[7866] in cryptography@c2.net mail archive
Treasury Department worries about ecash, anonymity
daemon@ATHENA.MIT.EDU (Declan McCullagh)
Sat Sep 23 13:06:23 2000
Message-Id: <4.3.0.20000922210653.01581020@mail.well.com>
Date: Fri, 22 Sep 2000 21:07:01 -0400
To: cryptography@c2.net
From: Declan McCullagh <declan@well.com>
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http://www.wired.com/news/politics/0,1283,38955,00.html
Feds: Digital Cash Can Thwart Us
by Declan McCullagh (declan@wired.com)
3:00 a.m. Sep. 22, 2000 PDT
WASHINGTON -- A Treasury Department report warns that technologies
such as the Internet and electronic cash could thwart the federal
government's efforts to conduct surveillance of bank and credit card
transactions.
The internal strategic plan predicts that technology may help law
enforcement by allowing agents to assemble ever-growing databases of
Americans' financial activities, but it can also provide more
anonymity than ever before.
Treasury's Financial Crimes Enforcement Network (FinCEN) prepared the
36-page document, which was obtained by Wired News.
It says: "The development of new technologies -- such as electronic
cash, electronic purses, Internet or smartcard based electronic
payment systems, and Internet banking -- is increasing the ability of
individuals to rapidly transfer large sums of money, and could pose a
challenge for FinCEN and other law enforcement agencies combating
money laundering."
[...]
